FACTBOX-Major construction projects in Libya

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May 27 (BestGrowthStock) – Oil exporter Libya is making up for years
of stagnation by spending billions of dollars on construction
projects, creating lucrative opportunities for contractors bold
enough to risk Libya’s unpredictable business climate.

Following is a selection of some of the biggest projects
underway in Libya outside oil and gas:

* TRANSPORT — Russian state-owned firm Russian Railways
signed a 2.2 million euro ($2.8 million) contract in April 2008
to build a high-speed railway along Libya’s Mediterranean coast
between Sirte and Benghazi, a distance of about 500 km (310
miles). In the same year, China Railway Construction Corporation
Ltd was awarded a contract worth $2.6 billion to build two
sections of railway. Brazilian construction firm Odebrecht, with
a Libyan joint venture partner, is building a 24 km stretch of
ring road around Tripoli.

* HOTELS — Marriott International Inc (MAR.N: ) will manage a
370-room hotel in Tripoli scheduled to open next year. The hotel
will be in a 36-storey tower which already dominates the city’s
skyline, being built by South Korea’s Daewoo Engineering and
Construction in partnership with a Libyan state investment fund.
Also, Intercontinental Hotels Group (IHG.L: ) is planning this
year to open a 351-room hotel in Tripoli in partnership with a
firm called Magna Holdings Limited.

* SHOPPING MALLS — Istanbul-based firm Turkmall signed an
agreement with Libya’s state-run Economic and Social Development
Fund to build three shopping and entertainment centres: two in
Tripoli and one in Benghazi. Turkish-run Renaissance
Construction has been awarded a contract by the Libyan
Investment and Development Corporation to build an office,
residential and retail complex on a huge site on the road
between Tripoli and the international airport. Another Turkish
company, Summa, says it is building a mall in Benghazi.

* AIRPORT — Tripoli’s down-at-heel international airport is
being replaced with two brand-new terminals, due for completion
in March 2011 and will have capacity for 20 million passengers
per year. The contract for the project was awarded to a
consortium of Turkey’s TAV Construction, Odebrecht and
Athens-based firm Consolidated Contractors Co.

* CONFERENCE HALL — Italian construction firm Impregilo
(IPGI.MI: ) has won a 285 million euro contract to build a
conference centre on the outskirts of Tripoli. Designed by
London-based architect Zaha Hadid, it is scheduled for
completion in 2013, according to the Italian company.

* UTILITIES — Austrian builder Strabag (STRV.VI: ) was
awarded a 434 million euro contract to modernise water and
sewage systems, telephone and electricity lines in Tajura, near
Tripoli. Impregilo, in partnership with a Libyan investment
vehicle, has been contracted to carry out similar work in
Tripoli and Misurata.

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FACTBOX-Major construction projects in Libya